Perstorp to acquire Solvay’s caprolactone business

15 October 2007 11:00  [Source: ICIS news]

MUMBAI (ICIS news)--Sweden's Perstorp has agreed to acquire Caprolactones, a unit of Belgian chemical and pharmaceuticals group Solvay, for an undisclosed sum to boost its product portfolio, the company said on Monday.

The sale was due to be completed for €200m ($284.6m), according to other media reports.

Perstorp planned to significantly raise Caprolactones' capacity after the deal was done, to meet growing market demand, Perstorp added.

The acquisition was subject to approval from regulatory authorities and was expected to be completed before the end of the year, the company said.

"We are now beginning to implement our expansion plans with a second acquisition in recent months," said Bo Dankis, president and CEO of Perstorp.

"Solvay Caprolactones is the market leader in a segment seeing rapid expansion. Almost the same end customers and a similar strategy will provide significant synergies and development potential," he added.

The unit produces, markets and sells epsilon-caprolactone, an intermediate polymer, and downstream derivatives

This planned acquisition follows Perstorp’s recent acquisition of Lonza Group’s purified isophthalic acid (PIA) manufacturing plant in Singapore.

($1 = €0.71)

By: Isha Jha
+65 6780 4359

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